TRND - Existing-Home Sales Remained Robust In December

• Sales of existing homes rose 0.7 percent in December, hitting a 6.76 million seasonally adjusted annual rate, the fourth consecutive month above the 6 million mark and the second-highest pace since March 2006.
• Total inventory of existing homes for sale fell 16.4 percent to 1.07 million in December, pushing the months' supply (inventory times 12 divided by the annual selling rate) to 1.9, a new low, from 2.3 in November.
• Though unemployment remains high and the outlook for the labor market and the broader economy remains highly uncertain, near record-low mortgage rates and surging demand for housing are supporting a strong recovery for the housing market.

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